Govt appoints 3 directors on RBI Central Board

Government today appointed three part-time Non-Official Directors on the all powerful Central Board of the Reserve Bank of India for a four-year term.

The Appointments Committee of the Cabinet (ACC) has appointed Ashok Gulati, Manish Sabharwal and Rajiv Kumar as part-time Non-Official Directors on the Central Board.

Stating this, the Department of Personnel and Training said the appointments are for a period of four years.

Further, the ACC has also approved the proposal of Department of Financial Services for appointment of three Members on the Local Board of RBI.

Prasanna Kumar Mohanty (Southern Local Board), Vallabh Roopchand Bhanshali (Western Local Board) and Sunil Mitra (Eastern Local Board) have been appointed for four years.

The RBI's affairs are governed by the Central Board of Directors. The board is appointed by the government.

There are five Official Directors -- Governor and not more than four Deputy Governors.

Besides, the government nominates 16 Non-Official Directors on the Board. Ten are nominated from different fields, two are government officials and one director each from the four local boards.